Acquisition

RNS Number : 6328C

International Cons Airlines Group

23 January 2018

 

INTERNATIONAL AIRLINES GROUP UNSUCCESSFUL IN NIKI ASSETS BID 

International Airlines Group (IAG) announced on December 29, 2017 that it had agreed to buy assets of the Austrian airline NIKI under the German insolvency process, subject to customary closing conditions.

On January 12, 2018 NIKI insolvency proceedings opened in Austria initiating a new sales process. IAG resubmitted its bid on January 19, 2018 and has been advised today that the bid was unsuccessful.

IAG is disappointed that NIKI will not be able to develop and grow stronger as part of the Group.

January 23, 2018

LEI: 959800TZHQRUSH1ESL13

Forward-looking statements:

Certain statements included in this report are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Forward-looking statements can typically be identified by the use of forward-looking terminology, such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" and include, without limitation, any projections relating to results of operations and financial conditions of International Consolidated Airlines Group S.A. and its subsidiary undertakings from time to time (the 'Group'), as well as plans and objectives for future operations, expected future revenues, financing plans, expected expenditures and divestments relating to the Group and discussions of the Group's Business plan. All forward-looking statements in this report are based upon information known to the Group on the date of this report. The Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this report to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2016; these documents are available on www.iagshares.com.

 

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